The BBVA subsidiary in the United States signed a collaboration agreement with Google to offer digital bank accounts through the Google Pay tool.
The new digital account is scheduled for 2021, will use both brands (Google and BBVA) and will have the backing of the FDIC, the body that guarantees deposits in the US market.
It will be available through Google Pay and will be implemented on BBVA’s current technological infrastructure, while Google will provide the customer interface.
The financial entity said that the alliance “endorses its strategy to continue betting on organic growth in the United States, while deepening its transformation and taking advantage of innovations.”
“Collaboration with Google is fully aligned with our strategic plan and even more so in today’s world where the ability to manage financial life digitally, from opening an account, conducting operations or understanding financial health, is an imperative,” he said. he country manager from BBVA in the United States, Javier Rodríguez Soler.
The executive also recognized that the agreements with companies like Google represent the future of banking. “The consumer is the big winner when banks and big tech companies work together in their favor,” he said.
For his part, the vice president of Google’s payment ecosystem, Felix Lin, promised to “use all the technological knowledge to benefit users, banks and the entire financial ecosystem.”